After an election fought on cost-of-living and access to affordable healthcare, the Generic and Biosimilar Medicines Association (GBMA) congratulates the Prime Minister, the Hon Anthony Albanese MP, on being returned as a majority Government and the appointment of a new Ministry.
The GBMA welcomes today’s re-appointment of the Minister for Health and Ageing, the Hon Mark Butler MP, with the additional portfolios of Disability and the National Disability Insurance Scheme (NDIS) and the Hon Emma McBride MP as the Assistant Minister for Mental Health, Suicide Prevention Rural and Regional Health.
GBMA also applauds the new Health-related Ministers including the Hon Sam Rae MP, now the Minister for Aged Care and Seniors , the Hon Rebecca White MP as Assistant Minister for Health, Aged Care, Indigenous Health and Women, the Hon Jenny McAllister MP, as the Minister for the NDIS and Dan Repacholi MP as the Special Envoy for Men’s Health.
The Independent Chair of the GBMA, Hon. Professor Jane Halton AO PSM, says her members are looking forward to continuing the collaboration with the Government, to ensure all Australians can maintain secure and equitable access to affordable medicines.
“The GBMA will work closely with the Albanese Government as it implements its key election policy commitments, including cheaper medicines and investment in Medicare,” says Hon. Prof Halton.
“These are unprecedented healthcare investments that can be offset by unlocking the incredible savings inherent in biosimilar medicines.”According to Hon. Prof Halton, the health budget can be replenished with up to $1.5 billion worth of savings, over
the next 5 years. This can be achieved through a stable domestic policy landscape, that leads to more biosimilars entering the Australian market.
The CEO of the GBMA, Ms Marnie Peterson, says its proposed policy reforms provide further hip pocket relief to patients. “Through collaboration, the GBMA can help strengthen a healthcare system that prioritises patients, while delivering sustainable savings for both the Government and patients.
Australia is lagging behind other OECD countries in biosimilar uptake and it is clear that reforms are needed to ensure more timely and affordable treatments for all patients. Together with the Government, GBMA members will develop the next five-year GBMA Strategic Agreement, with patient access at its core.
The current agreement has played a crucial role in helping to shield patients from the worst impacts of preventable medicine shortages,” said Ms Peterson. “Members collectively invested over $300 million to build and maintain strategic stockpiles of essential medicines.”
“As Australians continue to struggle out from under a cost-of-living crisis, we are looking forward to navigating this dynamic new Parliament to realise our biosimilar policies that continue to benefit all patients but in particular, the 61% living with one or more chronic diseases,”[1] says Ms Peterson.
About the GBMA
The Generic and Biosimilar Medicines Association (GBMA) is the peak representative body of generic and biosimilar medicine suppliers in Australia. Its members ensure that all Australians are offered the highest quality generic and biosimilar medicines in the world whilst providing affordable community health outcomes that benefit all Australians.
About Biosimilars. [2]
biosimilarsBiosimilar medicines are highly similar versions of the original, or ‘reference’, brand of a biological medicine.They are subject to the same regulatory standards and are equally safe and effective at treating the same diseases as the original biological medicine. [3]
Biosimilar brands of medicine come onto the market after the patent for the equivalent reference brand of a biological medicine has expired. They provide more brand options for the same clinical results and introduce competition into the medicines market. They have been in use internationally for more than 15 years.
1. https://www.aihw.gov.au/reports/australias-health/chronic-conditions
Australian Government. Department of Health and Aged Care. About Medicines. Available online:
2.https://www.health.gov.au/topics/medicines/about-medicines.
3. Australian Government. Department of Health and Aged Care. Biosimilar Medicines Regulation. Available online: Biosimilar medicines regulation | Therapeutic Goods Administration (TGA)
